329 Fir St · Gate City, VA 24251

$80,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 67 Days on market

Built 1940 0.35 ac lot $74/sqft · 38% below area Est $129k · 38% under

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.8/10.0
• Appreciation +5.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Unlock the potential in this classic 1940 home located in the Town of Gate City in Scott County, VA! This 2-bedroom, 1-bath fixer-upper is full of character and ready for someone with vision to bring it back to life. Offering 1,088 sq. ft. on the main level, the home features original hardwood floors throughout most of the living space (excluding the kitchen and bathroom) just waiting to be refinished and restored to their former beauty. The main floor includes a spacious living room with a cozy fireplace, a formal dining room, kitchen with tile flooring and appliances—including refrigerator, dishwasher, and range/oven with hood—along with two bedrooms and a full bath. One of the bedrooms also features its own fireplace, adding to the home's vintage charm. Several original details remain intact, including doors, trim work, and hardwood flooring, giving this home a solid foundation for a stunning renovation. The partially finished basement adds additional space with a bonus room or den, while the unfinished area provides laundry space and ample storage. Outside, you'll find a rolling/sloping yard with a chain link fence, a covered front porch perfect for relaxing, a small rear deck, and a storage shed for added convenience. The home has vinyl siding, a tin roof, is served by public water and sewer, with oil heat and window units for cooling. Being sold AS IS, this property is ideal for investors, flippers, or buyers looking to create their own personalized space. With the right updates and vision, this home could truly shine—don't miss the opportunity to make it your own!

Key facts

• Covered front porch
• Formal dining room
• Small rear deck

Tags

• ORIGINAL HARDWOOD FLOORS
• COZY FIREPLACE
• FORMAL DINING ROOM
• PARTIALLY FINISHED BASEMENT
• COVERED FRONT PORCH
• SMALL REAR DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 4.4% in Gate City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#400 in VA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Scott County Public School District (rural): math 66% / reading 73% proficiency, ranked #33 of 131 in VA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 50 active listings in the ZIP; 22 units permitted in Scott County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $732 of equity ($553 loan paydown + $179 appreciation (0.2% local appreciation)).
• Scott County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $80k implies a 256% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.67%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (median comp): $128,816
• List price: $80,000
• Delta: -37.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Manville Rd	0.27mi	2/1.5	1,028 (-6%)	11mo	$132,500	$129	67
568 Manville Rd	0.40mi	3/1.0 (+1)	1,151 (+6%)	10mo	$84,800	$74	59
274 Highland St	0.38mi	3/1.0 (+1)	1,008 (-7%)	9mo	$145,000	$144	58
127 Promise St	0.35mi	3/1.5 (+1)	1,144 (+5%)	13mo	$20,000	$17	58
327 Walnut St	0.23mi	3/1.0 (+1)	1,182 (+9%)	19mo	$175,000	$148	54
561 Manville Rd	0.38mi	3/1.0 (+1)	1,250 (+15%)	11mo	$131,000	$105	43
218 Woodland St	0.45mi	3/1.0 (+1)	936 (-14%)	21mo	$157,000	$168	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 2.45×
• Total profit: $32,577
• Equity at exit: $24,130

10-year hold

• IRR: 32.9%
• Equity multiple: 4.73×
• Total profit: $83,657
• Equity at exit: $29,735

Cash invested: $22,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24251

• Home prices YoY: 0.1%
• Active inventory: 50
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,306 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $535

Break-even live

Break-even rent $628

Max offer price $80,000

Occupancy floor 54%

Sensitivity live

Price	-10% $580	-5% $558	+0% $535	+5% $513	+10% $490
Rent	-10% $432	-5% $484	+0% $535	+5% $587	+10% $638
Rate	-1.0pp $575	-0.5pp $556	base $535	+0.5pp $514	+1.0pp $493

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $80,000 Active 67 DOM
2. 2026-06-18
   days on market $80,000 Active 65 DOM
3. 2026-06-17
   days on market $80,000 Active 64 DOM
4. 2026-06-16
   days on market $80,000 Active 63 DOM
5. 2026-06-15
   days on market $80,000 Active 62 DOM
6. 2026-06-15
   days on market $80,000 Active 61 DOM
7. 2026-06-13
   days on market $80,000 Active 60 DOM
8. 2026-06-12
   days on market $80,000 Active 59 DOM
9. 2026-06-09
   days on market $80,000 Active 56 DOM
10. 2026-06-08
    days on market $80,000 Active 55 DOM
11. 2026-06-08
    days on market $80,000 Active 54 DOM
12. 2026-06-07
    days on market $80,000 Active 53 DOM
13. 2026-06-03
    days on market $80,000 Active 50 DOM
14. 2026-06-02
    days on market $80,000 Active 49 DOM
15. 2026-06-01
    days on market $80,000 Active 48 DOM
16. 2026-05-31
    days on market $80,000 Active 47 DOM
17. 2026-05-15
    price $83,000 1615-char remark

    Show marketing remark (1615 chars)

    Unlock the potential in this classic 1940 home located in the Town of Gate City in Scott County, VA! This 2-bedroom, 1-bath fixer-upper is full of character and ready for someone with vision to bring it back to life. Offering 1,088 sq. ft. on the main level, the home features original hardwood floors throughout most of the living space (excluding the kitchen and bathroom) just waiting to be refinished and restored to their former beauty. The main floor includes a spacious living room with a cozy fireplace, a formal dining room, kitchen with tile flooring and appliances—including refrigerator, dishwasher, and range/oven with hood—along with two bedrooms and a full bath. One of the bedrooms also features its own fireplace, adding to the home's vintage charm. Several original details remain intact, including doors, trim work, and hardwood flooring, giving this home a solid foundation for a stunning renovation. The partially finished basement adds additional space with a bonus room or den, while the unfinished area provides laundry space and ample storage. Outside, you'll find a rolling/sloping yard with a chain link fence, a covered front porch perfect for relaxing, a small rear deck, and a storage shed for added convenience. The home has vinyl siding, a tin roof, is served by public water and sewer, with oil heat and window units for cooling. Being sold AS IS, this property is ideal for investors, flippers, or buyers looking to create their own personalized space. With the right updates and vision, this home could truly shine—don't miss the opportunity to make it your own!

18. 2026-05-08
    price $87,000 1615-char remark

    Show marketing remark (1615 chars)

    Unlock the potential in this classic 1940 home located in the Town of Gate City in Scott County, VA! This 2-bedroom, 1-bath fixer-upper is full of character and ready for someone with vision to bring it back to life. Offering 1,088 sq. ft. on the main level, the home features original hardwood floors throughout most of the living space (excluding the kitchen and bathroom) just waiting to be refinished and restored to their former beauty. The main floor includes a spacious living room with a cozy fireplace, a formal dining room, kitchen with tile flooring and appliances—including refrigerator, dishwasher, and range/oven with hood—along with two bedrooms and a full bath. One of the bedrooms also features its own fireplace, adding to the home's vintage charm. Several original details remain intact, including doors, trim work, and hardwood flooring, giving this home a solid foundation for a stunning renovation. The partially finished basement adds additional space with a bonus room or den, while the unfinished area provides laundry space and ample storage. Outside, you'll find a rolling/sloping yard with a chain link fence, a covered front porch perfect for relaxing, a small rear deck, and a storage shed for added convenience. The home has vinyl siding, a tin roof, is served by public water and sewer, with oil heat and window units for cooling. Being sold AS IS, this property is ideal for investors, flippers, or buyers looking to create their own personalized space. With the right updates and vision, this home could truly shine—don't miss the opportunity to make it your own!

19. 2026-05-01
    price $89,000 1615-char remark

    Show marketing remark (1615 chars)

    Unlock the potential in this classic 1940 home located in the Town of Gate City in Scott County, VA! This 2-bedroom, 1-bath fixer-upper is full of character and ready for someone with vision to bring it back to life. Offering 1,088 sq. ft. on the main level, the home features original hardwood floors throughout most of the living space (excluding the kitchen and bathroom) just waiting to be refinished and restored to their former beauty. The main floor includes a spacious living room with a cozy fireplace, a formal dining room, kitchen with tile flooring and appliances—including refrigerator, dishwasher, and range/oven with hood—along with two bedrooms and a full bath. One of the bedrooms also features its own fireplace, adding to the home's vintage charm. Several original details remain intact, including doors, trim work, and hardwood flooring, giving this home a solid foundation for a stunning renovation. The partially finished basement adds additional space with a bonus room or den, while the unfinished area provides laundry space and ample storage. Outside, you'll find a rolling/sloping yard with a chain link fence, a covered front porch perfect for relaxing, a small rear deck, and a storage shed for added convenience. The home has vinyl siding, a tin roof, is served by public water and sewer, with oil heat and window units for cooling. Being sold AS IS, this property is ideal for investors, flippers, or buyers looking to create their own personalized space. With the right updates and vision, this home could truly shine—don't miss the opportunity to make it your own!

20. 2026-04-22
    price $92,000 1615-char remark

    Show marketing remark (1615 chars)

    Unlock the potential in this classic 1940 home located in the Town of Gate City in Scott County, VA! This 2-bedroom, 1-bath fixer-upper is full of character and ready for someone with vision to bring it back to life. Offering 1,088 sq. ft. on the main level, the home features original hardwood floors throughout most of the living space (excluding the kitchen and bathroom) just waiting to be refinished and restored to their former beauty. The main floor includes a spacious living room with a cozy fireplace, a formal dining room, kitchen with tile flooring and appliances—including refrigerator, dishwasher, and range/oven with hood—along with two bedrooms and a full bath. One of the bedrooms also features its own fireplace, adding to the home's vintage charm. Several original details remain intact, including doors, trim work, and hardwood flooring, giving this home a solid foundation for a stunning renovation. The partially finished basement adds additional space with a bonus room or den, while the unfinished area provides laundry space and ample storage. Outside, you'll find a rolling/sloping yard with a chain link fence, a covered front porch perfect for relaxing, a small rear deck, and a storage shed for added convenience. The home has vinyl siding, a tin roof, is served by public water and sewer, with oil heat and window units for cooling. Being sold AS IS, this property is ideal for investors, flippers, or buyers looking to create their own personalized space. With the right updates and vision, this home could truly shine—don't miss the opportunity to make it your own!

21. 2026-04-13
    listed $94,000 Active 1615-char remark

    Show marketing remark (1615 chars)

    Unlock the potential in this classic 1940 home located in the Town of Gate City in Scott County, VA! This 2-bedroom, 1-bath fixer-upper is full of character and ready for someone with vision to bring it back to life. Offering 1,088 sq. ft. on the main level, the home features original hardwood floors throughout most of the living space (excluding the kitchen and bathroom) just waiting to be refinished and restored to their former beauty. The main floor includes a spacious living room with a cozy fireplace, a formal dining room, kitchen with tile flooring and appliances—including refrigerator, dishwasher, and range/oven with hood—along with two bedrooms and a full bath. One of the bedrooms also features its own fireplace, adding to the home's vintage charm. Several original details remain intact, including doors, trim work, and hardwood flooring, giving this home a solid foundation for a stunning renovation. The partially finished basement adds additional space with a bonus room or den, while the unfinished area provides laundry space and ample storage. Outside, you'll find a rolling/sloping yard with a chain link fence, a covered front porch perfect for relaxing, a small rear deck, and a storage shed for added convenience. The home has vinyl siding, a tin roof, is served by public water and sewer, with oil heat and window units for cooling. Being sold AS IS, this property is ideal for investors, flippers, or buyers looking to create their own personalized space. With the right updates and vision, this home could truly shine—don't miss the opportunity to make it your own!

22. 2001-05-01
    soldstatus $22,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $522 · $44/mo
• Projected year-2 tax: $656 · $55/mo
• Expected delta: +$134/yr (+$11/mo · 25.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥100°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,669
• − Mortgage interest: −$4,481
• − Property taxes: −$522
• − Insurance: −$400
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$2,327
• Taxable income: $5,431
• Est. tax owed @ 24.0%: −$1,304
• After-tax cash flow: $5,119/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Scott County Public School District
• NCES district ID: 5103480
• Math proficiency: 66% ▼ -26.00%
• Reading proficiency: 73% ▼ -12.00%
• Median HH income: $36,567
• Composite: 57.65/100
• National rank: #1061
• State rank: #33 of 131 in VA

Livability — Gate City

• Score: 62/100
• State rank: #400
• US rank: #16427

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment F Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gate City, VA
• Population (ZIP): 7,976

Population outlook (Scott County) Hauer SSP2

• Today (2025): 20,405 people
• By 2030: 19,379 · -5.0%
• By 2040: 17,325 · -15.1%
• By 2050: 15,464 · -24.2%
• By 2075: 11,845 · -42.0%
• By 2100: 8,516 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 4% Slovak 2% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -27.3pp toward R · 2008: -43.1pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+67.8 2016: R+66.3 2012: R+50.6 2008: R+43.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.22%
• Current HPI: 211.6519
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+268.9% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $83,000 SWVAR
• 2026-05-08 Price Changed $87,000 SWVAR
• 2026-05-01 Price Changed $89,000 SWVAR
• 2026-04-22 Price Changed $92,000 SWVAR
• 2026-04-13 Listed $94,000 SWVAR
• 2001-05-01 Sold (Public Records) $22,500 Public Records

Property tax history

+0.1%/yr

Latest (2025): $522 · +0.0% YoY. Source: county tax records.